Landlords and property agents have welcomed the launch of Abu Dhabi's first residential rental index, but tenants worry it could lead to higher rents.
The rental index is now available on the Abu Dhabi Real Estate Centre (Adrec) website, highlighting average rental costs across the capital.
It offers reliable data on properties, including past and current rental rates, to help residents and those living abroad better understand the market, said Adrec.
Mubarak Al Amry, owner of Mi Casa Real Estate, said it is a big step for the city and has the potential to bring “great benefits”, but at the same time there are possible downsides that may affect agencies' bottom line.
Tenants also worry it could prompt landlords to fix prices unfairly.
When Yas Acres resident Ryaan Sharif moved home in 2021, much of his decision making relied on trusting his agent's opinion on pricing. "Had the Abu Dhabi index benchmark been available during our search, it would have been incredibly valuable," he told The National.
"While we were fortunate to secure a property at what seems to be a reasonable rate, having access to a benchmark report would have provided us with a more informed basis for negotiation. Unfortunately without such a resource, many people ended up overpaying, only realising it after it's too late."
Mr Al Amry highlighted this as one of the biggest benefits of the index, offering tenants greater transparency and giving them the tools to make smarter choices.
It will also offer real estate agencies a clear guide to set rental prices, he added. "It helps [agencies] understand the market better and might even spark a bit more competition."
Greater transparency in a market indicates continuing development, highlighted Svetlana Politova, chief operating officer of Whitewill Abu Dhabi, who believes the index is a valuable tool for everyone.
“It allows individuals to make more informed decisions, while policymakers can address issues such as affordability, rent control and housing supply, which is beneficial for the overall market."
The index will also allow property agencies to build trust and credibility with tenants by offering accurate rental estimates, Ms Politova added.
Paola Erazo of Sunday Morning Real Estate, who along with her husband owns five properties on Reem Island, and is a tenant herself, agreed it will help ease negotiations with potential renters.
“When someone first arrives in the country, you never know if [agents] are giving them good or bad prices for a property,” she said. “For tenants, it’s going to be good because they’ll know which area they want to choose and the average prices.
"As a landlord, it’s also going to be good because you can tell them to check prices on the index and it’ll be easier to have negotiations."
Potential downsides
Esther, a school administrator who rents in Khalifa City A, said the transparency of information that the rental index offers will undoubtedly be useful for landlords and renters.
“But while it’s good for investors to know there has been an increase in yearly rent, I hope it doesn’t compel them to hike these prices unnecessarily,” she added.
Ms Erazo said it is possible some landlords might take advantage by increasing the price of a property to match or even exceed that of the index, when its true value is less.
“Some properties are not in shape to be increased that much, or to cost that much, but the demand and the offer will decide. Often people demand really high prices but can’t keep a tenant for more than two or three months. And while a lot of properties don’t deserve that price, when you have a need to rent, you’ll go for it.”
Ms Erazo said in the end it often comes down to supply and demand.
"The index may say one thing but some buildings always have a waiting list. A property might go up for rent in the morning and by the afternoon you always have a proposal.”
Blind dependence on the index, meanwhile, could also lead to tenants and industry professionals overlooking other crucial factors that influence rental rates, said Ms Politova, “such as property conditions, neighbourhood amenities and local market trends. [An index] doesn’t always capture the nuances and variations of local rental markets.”
This is particularly true for premium and luxury properties, which are in high demand across Abu Dhabi. “The index might not capture their true value,” said Mr Al Amry. “This can make it difficult to set higher rents and could impact our revenue.
“And since the index makes pricing so transparent, tenants might start moving to more affordable areas. This could boost competition and potentially reduce rental returns for some properties.”
A 'buzzing' rental market
The new announcement comes as rents continue to rise in the Abu Dhabi market, which Mr Al Amry described as “buzzing”.
Apartment rents increased by 2 per cent annually in the capital during the second quarter, while villa rents jumped 5 per cent, according to the latest report from Asteco.
A separate report by CBRE, a global leader in real estate services, showed average apartment rents increased by 6.6 per cent in the second quarter compared to a year earlier, and average villa rents grew by 2.5 per cent. Average costs stood at Dh66,375 and Dh166,261, respectively ($18,070 and 45,260).
The emirate also recorded a significant increase in residential rental contracts during the first half of this year, with 49,135 contracts registered, according to data released by the Statistics Centre – Abu Dhabi.
This is an increase of 24,811 contracts compared to the same period last year, demonstrating a 102 per cent growth.
This demand is often outweighing supply in many areas, which has in turn led to an increase in rental costs.
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Tips for entertaining with ease
· Set the table the night before. It’s a small job but it will make you feel more organised once done.
· As the host, your mood sets the tone. If people arrive to find you red-faced and harried, they’re not going to relax until you do. Take a deep breath and try to exude calm energy.
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Ultra processed foods
- Carbonated drinks, sweet or savoury packaged snacks, confectionery, mass-produced packaged breads and buns
- margarines and spreads; cookies, biscuits, pastries, cakes, and cake mixes, breakfast cereals, cereal and energy bars;
- energy drinks, milk drinks, fruit yoghurts and fruit drinks, cocoa drinks, meat and chicken extracts and instant sauces
- infant formulas and follow-on milks, health and slimming products such as powdered or fortified meal and dish substitutes,
- many ready-to-heat products including pre-prepared pies and pasta and pizza dishes, poultry and fish nuggets and sticks, sausages, burgers, hot dogs, and other reconstituted meat products, powdered and packaged instant soups, noodles and desserts.
Abu Dhabi Sustainability Week
Plan to boost public schools
A major shake-up of government-run schools was rolled out across the country in 2017. Known as the Emirati School Model, it placed more emphasis on maths and science while also adding practical skills to the curriculum.
It was accompanied by the promise of a Dh5 billion investment, over six years, to pay for state-of-the-art infrastructure improvements.
Aspects of the school model will be extended to international private schools, the education minister has previously suggested.
Recent developments have also included the introduction of moral education - which public and private schools both must teach - along with reform of the exams system and tougher teacher licensing requirements.
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Engine: Electric motor generating 54.2kWh (Cooper SE and Aceman SE), 64.6kW (Countryman All4 SE)
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The specs
Engine: 1.6-litre 4-cyl turbo
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The five pillars of Islam
1. Fasting
2. Prayer
3. Hajj
4. Shahada
5. Zakat
Global state-owned investor ranking by size
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MOUNTAINHEAD REVIEW
Starring: Ramy Youssef, Steve Carell, Jason Schwartzman
Director: Jesse Armstrong
Rating: 3.5/5
Key facilities
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Don't get fined
The UAE FTA requires following to be kept:
- Records of all supplies and imports of goods and services
- All tax invoices and tax credit notes
- Alternative documents related to receiving goods or services
- All tax invoices and tax credit notes
- Alternative documents issued
- Records of goods and services that have been disposed of or used for matters not related to business
The Beach Bum
Director: Harmony Korine
Stars: Matthew McConaughey, Isla Fisher, Snoop Dogg
Two stars
Company profile
Name: Steppi
Founders: Joe Franklin and Milos Savic
Launched: February 2020
Size: 10,000 users by the end of July and a goal of 200,000 users by the end of the year
Employees: Five
Based: Jumeirah Lakes Towers, Dubai
Financing stage: Two seed rounds – the first sourced from angel investors and the founders' personal savings
Second round raised Dh720,000 from silent investors in June this year
Temple numbers
Expected completion: 2022
Height: 24 meters
Ground floor banquet hall: 370 square metres to accommodate about 750 people
Ground floor multipurpose hall: 92 square metres for up to 200 people
First floor main Prayer Hall: 465 square metres to hold 1,500 people at a time
First floor terrace areas: 2,30 square metres
Temple will be spread over 6,900 square metres
Structure includes two basements, ground and first floor
Our family matters legal consultant
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
The biog
Family: Parents and four sisters
Education: Bachelor’s degree in business management and marketing at American University of Sharjah
A self-confessed foodie, she enjoys trying out new cuisines, her current favourite is the poke superfood bowls
Likes reading: autobiographies and fiction
Favourite holiday destination: Italy
Posts information about challenges, events, runs in other emirates on the group's Instagram account @Anagowrunning
Has created a database of Emirati and GCC sportspeople on Instagram @abeermk, highlight: Athletes
Apart from training, also talks to women about nutrition, healthy lifestyle, diabetes, cholesterol, blood pressure
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
The stats: 2017 Jaguar XJ
Price, base / as tested Dh326,700 / Dh342,700
Engine 3.0L V6
Transmission Eight-speed automatic
Power 340hp @ 6,000pm
Torque 450Nm @ 3,500rpm
Fuel economy, combined 9.1L / 100km
Company name: Farmin
Date started: March 2019
Founder: Dr Ali Al Hammadi
Based: Abu Dhabi
Sector: AgriTech
Initial investment: None to date
Partners/Incubators: UAE Space Agency/Krypto Labs
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
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Director: S Shankar
Producer: Lyca Productions; presented by Dharma Films
Cast: Rajnikanth, Akshay Kumar, Amy Jackson, Sudhanshu Pandey
Rating: 3.5/5 stars
Honeymoonish
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HIJRA
Starring: Lamar Faden, Khairiah Nathmy, Nawaf Al-Dhufairy
Director: Shahad Ameen
Rating: 3/5
Killing of Qassem Suleimani
Australia men's Test cricket fixtures 2021/22
One-off Test v Afghanistan:
Nov 27-Dec 1: Blundstone Arena, Hobart
The Ashes v England:
Dec 8-12: 1st Test, Gabba, Brisbane
Dec 16-20: 2nd Test, Adelaide Oval, Adelaide (day/night)
Dec 26-30: 3rd Test, Melbourne Cricket Ground, Melbourne
Jan 5-9, 2022: 4th Test, Sydney Cricket Ground, Sydney
Jan 14-18: 5th Test, Optus Stadium, Perth
Mohammed bin Zayed Majlis
The schedule
December 5 - 23: Shooting competition, Al Dhafra Shooting Club
December 9 - 24: Handicrafts competition, from 4pm until 10pm, Heritage Souq
December 11 - 20: Dates competition, from 4pm
December 12 - 20: Sour milk competition
December 13: Falcon beauty competition
December 14 and 20: Saluki races
December 15: Arabian horse races, from 4pm
December 16 - 19: Falconry competition
December 18: Camel milk competition, from 7.30 - 9.30 am
December 20 and 21: Sheep beauty competition, from 10am
December 22: The best herd of 30 camels
Who has been sanctioned?
Daniella Weiss and Nachala
Described as 'the grandmother of the settler movement', she has encouraged the expansion of settlements for decades. The 79 year old leads radical settler movement Nachala, whose aim is for Israel to annex Gaza and the occupied West Bank, where it helps settlers built outposts.
Harel Libi & Libi Construction and Infrastructure
Libi has been involved in threatening and perpetuating acts of aggression and violence against Palestinians. His firm has provided logistical and financial support for the establishment of illegal outposts.
Zohar Sabah
Runs a settler outpost named Zohar’s Farm and has previously faced charges of violence against Palestinians. He was indicted by Israel’s State Attorney’s Office in September for allegedly participating in a violent attack against Palestinians and activists in the West Bank village of Muarrajat.
Coco’s Farm and Neria’s Farm
These are illegal outposts in the West Bank, which are at the vanguard of the settler movement. According to the UK, they are associated with people who have been involved in enabling, inciting, promoting or providing support for activities that amount to “serious abuse”.
The specs
Engine: 2.0-litre 4-cylinder turbo
Power: 240hp at 5,500rpm
Torque: 390Nm at 3,000rpm
Transmission: eight-speed auto
Price: from Dh122,745
On sale: now
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More on animal trafficking
RESULT
Arsenal 2
Sokratis Papastathopoulos 45 4'
Eddie Ntkeiah 51'
Portsmouth 0
